Retail

Talking About Repeat Business is Worth Repeating

Talking About Repeat Business is Worth Repeating

It’s rare that retailers ever talk about or report statistics on repeat customers. Stats are publicized on store over store results, year-by-year. But, that’s it. If you google repeat business, a Bain & Co. study from 2000 pops-up. Yes, the most recent study appears to be 18 years old. That study found that increasing customer …Continue Reading

Retailers are Focusing on The Wrong Experience

Retailers are Focusing on The Wrong Experience

Retailers can learn important lessons from studying kiranas, mom-and-pop stores in India. In our present day quest to design the most efficient and enticing shopping experience, complete with the latest technology, retailers miss what is really essential.  Kiranas are small spaces, packed to the brim with merchandise.  Catering to a neighborhood population, the kirana offers …Continue Reading

Self-Service Brick & Mortar Stores Leave Your Brand Vulnerable to the Competition

Self-Service Brick & Mortar Stores Leave Your Brand Vulnerable to the Competition

Self-service brick & mortar stores don’t make sense. Removing the human component from the transaction results in just an exchange of goods and services for money, devoid of any connection. Customers want a human touch, even if they don’t know it.  Once it happens, the customer looks forward to a repeat performance. The associates make …Continue Reading

Amazon’s New Return Policies Give Brick & Mortar a New Life

Amazon’s New Return Policies Give Brick & Mortar a New Life

It finally happened! It could be a watershed moment for retailers, but more importantly for the consumer. How so?  The old adage, measure twice, cut once.  Consumers can be more thoughtful and precise about how they order and how much.  Amazon’s return policies allowed customers to make returns hassle-free. Now they are internally reviewing this process …Continue Reading

The Winner Of The 2018 Customer Service Award Goes to…. Best Buy

Filed in Blog, Repeat Business, Retail by on February 6, 2018 0 Comments
The Winner Of The 2018 Customer Service Award Goes to…. Best Buy

In January of 2012 almost every financial analyst was forecasting the demise of Best Buy.  Amazon was Best Buy’s largest competitor with overall annual sales of $61.9B. Five years later Amazon’s sales have almost tripled to $177.8 B. Although Amazon’s consumer electronics business continues to increase, Best Buy has continued to increase its share too. …Continue Reading